DNB Asset Management AS Purchases 28,922 Shares of MasTec, Inc. (NYSE:MTZ)

DNB Asset Management AS lifted its position in MasTec, Inc. (NYSE:MTZ – Get Rating) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,036 shares of the construction company’s stock after buying an additional 28,922 shares during the quarter. DNB Asset Management AS owned about 0.52% of MasTec worth $34,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in MasTec during the 3rd quarter valued at $38,281,000. Electron Capital Partners LLC lifted its holdings in MasTec by 66.3% during the 3rd quarter. Electron Capital Partners LLC now owns 1,320,399 shares of the construction company’s stock valued at $83,845,000 after purchasing an additional 526,537 shares during the last quarter. Vanguard Group Inc. lifted its holdings in MasTec by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock valued at $480,724,000 after purchasing an additional 447,376 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in MasTec by 43.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,285,284 shares of the construction company’s stock valued at $111,948,000 after purchasing an additional 390,531 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in MasTec by 125.3% during the 1st quarter. Invesco Ltd. now owns 700,891 shares of the construction company’s stock valued at $61,049,000 after purchasing an additional 389,752 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

MasTec Price Performance

MTZ stock traded down $1.98 during midday trading on Friday, reaching $87.09. The company had a trading volume of 975,824 shares, compared to its average volume of 792,903. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 207.36 and a beta of 1.39. The stock has a 50 day moving average price of $96.39 and a 200-day moving average price of $86.58. MasTec, Inc. has a 1-year low of $62.36 and a 1-year high of $103.50. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.55 and a quick ratio of 1.50.

MasTec (NYSE:MTZ – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The construction company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.92 billion. MasTec had a return on equity of 8.30% and a net margin of 0.34%. Equities research analysts expect that MasTec, Inc. will post 4.48 earnings per share for the current year.

Wall Street Analyst Weigh In

MTZ has been the subject of several research reports. Cowen cut their price target on MasTec from $125.00 to $120.00 in a report on Tuesday, December 27th. StockNews.com assumed coverage on MasTec in a report on Thursday. They set a “hold” rating for the company. Robert W. Baird lifted their target price on MasTec from $111.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Credit Suisse Group dropped their target price on MasTec from $122.00 to $121.00 and set an “outperform” rating for the company in a report on Monday, February 27th. Finally, Craig Hallum downgraded MasTec from a “buy” rating to a “hold” rating and set a $97.00 target price for the company. in a report on Monday, February 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.18.

MasTec Company Profile

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MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications, Oil and Gas, Clean Energy and Infrastructure, and Other. The Communications segment performs engineering, construction, maintenance, and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.